Detectives from the Police Special Fraud Unit in Lagos have arrested student Timothy Oluwabukola Fashina and school proprietor Anthony Imonina Odemerho for allegedly orchestrating a N1.23 billion airtime fraud, involving manipulation of a GSM provider’s network and the illegal sale of converted airtime.
Detectives from the Police Special Fraud Unit (PSFU) in Lagos have apprehended 32-year-old student Timothy Oluwabukola Fashina from Moshood Abiola Polytechnic (MAPOLY) in Abeokuta, Ogun State, and Anthony Imonina Odemerho, Proprietor of Resign Regal Academy in Benin City, Edo State, for allegedly participating in a N1.23 billion airtime fraud.
The suspects are accused of converting airtime worth N1.227 billion for personal use, following an audit by a GSM operator that revealed discrepancies in revenue accounts.
Investigations showed that between February and March 2024, Fashina collaborated with unidentified third-party web/application developers of the GSM company, using a Virtual Private Network (VPN) to encrypt data and access the company’s network through authorization keys.
PSFU Public Relations Officer, SP Eyitayo Johnson, confirmed that the suspects manipulated the GSM provider’s Application Programme Interface (API) to replicate N100,000 worth of airtime tickets multiple times, resulting in a total fraud of N1.23 billion.
Anthony Imonina allegedly downloaded the GSM provider’s mobile app, used Fashina’s phone number to request a One-Time Password (OTP), and gained access to the app with Fashina’s help. He then converted the fraudulently obtained airtime into data, which was sold to 52 subscribers, netting N1.315 billion.
The proceeds, including farmland, an uncompleted building, a warehouse, inventory, vehicles, and cryptocurrency, were traced to their accounts. Criminal charges have been filed against the suspects, and efforts are ongoing to apprehend the third-party developers involved.
PSFU is intensifying efforts to track down additional syndicate members and identify other assets acquired with the fraud proceeds.
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SOURCES: ALLSCHOOL, LEADERSHIP
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